In Tuesday's trading session, all Adani Group stocks climbed strongly, with heavy trade volumes. Adani Total Gas Ltd was the biggest gainer, rising 19.62 percent to a day high of Rs 642.10. Around 2.73 lakh shares were last observed moving hands on the BSE today. The volume was significantly higher than the two-week average volume of 60,000 shares. The counter's turnover was Rs 16.50 crore, with a market capitalisation (m-cap) of Rs 68,056.25 crore.
Adani Energy Solutions Ltd shares surged 13% higher to a day high of Rs 824. In early trade today, Adani Green Energy Ltd rose 7.84 percent to Rs 1,010.90. Adani Power increased 8.47% at Rs 430.50.
Adani Enterprises Ltd, the flagship firm of the Adani Group, increased 6.26 percent to a day high of Rs 2,370. Adani Wilmar Ltd stock rose 6.86 percent to a high of Rs 338.65. Adani Wilmar is a joint venture formed by the Adani Group and Singapore-based Wilmar. Adani Ports added 3.71 per cent, NDTV 6.03 per cent, ACC 2.86 percent while Ambuja Cements gained 3.66 per cent.
The big increase in Adani stock came after the Supreme Court reserved its decision in the Adani-Hinderburg case after hearing various arguments. A bench led by Chief Justice of India DY Chandrachud stated that the top court cannot dismiss Sebi's investigation based solely on media reporting.
The court further stated that the Securities and Exchange Board of India must conclude its investigation in all 24 cases. Previously, Sebi stated in its progress report on August 25 that it had concluded its investigation in 22 of the 24 instances. The markets regulator stated that it will not seek an extension to complete its investigation into billionaire Gautam Adani's group.
